CMS: drug spending growth lowest in five years

Drug spending increased 0.4% in 2017, the lowest growth rate since 2012, according to a report from CMS’s Office of the Actuary. Healthcare spending grew at a rate of 3.9% last year, showing a reduction in growth for the second straight year, while GDP growth accelerated to 4.2% from 2.7% in 2016.

CMS attributed the deceleration in drug spending to slowing growth in the number of prescriptions dispensed, a continued shift to lower-cost generic drugs and slower growth in the volume of some high-cost drugs. Generic drug prices declined and existing brand-name drugs had lower price increases in 2017...